Delek US (NYSE:DK) Price Target Cut to $25.00

Delek US (NYSE:DK) had its price objective cut by Piper Sandler from $30.00 to $25.00 in a research note published on Friday, Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

Other equities research analysts have also recently issued reports about the stock. Scotiabank boosted their price target on shares of Delek US from $25.00 to $27.00 and gave the stock a sector perform rating in a research report on Thursday, April 11th. Wells Fargo & Company cut their price target on shares of Delek US from $26.00 to $25.00 and set an underweight rating on the stock in a research report on Thursday, June 6th. UBS Group boosted their price objective on shares of Delek US from $30.00 to $32.00 and gave the stock a neutral rating in a research note on Thursday, April 4th. Bank of America boosted their price objective on shares of Delek US from $30.00 to $32.00 and gave the stock a neutral rating in a research note on Friday, March 15th. Finally, Mizuho boosted their price objective on shares of Delek US from $30.00 to $31.00 and gave the stock an underperform rating in a research note on Monday, May 13th. Five analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $27.40.

Delek US Trading Down 0.5 %

DK opened at $23.94 on Friday. The firm’s fifty day simple moving average is $27.62 and its 200 day simple moving average is $27.41. The company has a current ratio of 1.04, a quick ratio of 0.64 and a debt-to-equity ratio of 2.40. Delek US has a 12 month low of $21.68 and a 12 month high of $33.60. The stock has a market capitalization of $1.54 billion, a P/E ratio of -19.31 and a beta of 1.29.

Delek US (NYSE:DK) last issued its quarterly earnings results on Tuesday, May 7th. The oil and gas company reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.15. Delek US had a negative net margin of 0.48% and a positive return on equity of 7.37%. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same period in the previous year, the firm posted $1.37 EPS. The company’s revenue for the quarter was down 17.8% on a year-over-year basis. As a group, research analysts anticipate that Delek US will post 1 EPS for the current fiscal year.

Delek US Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 17th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $1.00 dividend on an annualized basis and a yield of 4.18%. This is a positive change from Delek US’s previous quarterly dividend of $0.25. Delek US’s dividend payout ratio is -80.65%.

Insider Activity at Delek US

In related news, Director Richard J. Marcogliese purchased 2,750 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were acquired at an average price of $23.99 per share, for a total transaction of $65,972.50. Following the purchase, the director now owns 42,863 shares in the company, valued at $1,028,283.37. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have sold 2,854 shares of company stock worth $78,241. Insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Jump Financial LLC grew its position in shares of Delek US by 2.1% during the 4th quarter. Jump Financial LLC now owns 113,092 shares of the oil and gas company’s stock worth $2,918,000 after purchasing an additional 2,325 shares in the last quarter. Grizzlyrock Capital LLC bought a new stake in shares of Delek US during the 4th quarter worth approximately $2,405,000. Raymond James & Associates bought a new stake in shares of Delek US during the 4th quarter worth approximately $13,295,000. Rafferty Asset Management LLC lifted its holdings in shares of Delek US by 35.2% during the 4th quarter. Rafferty Asset Management LLC now owns 185,458 shares of the oil and gas company’s stock worth $4,785,000 after acquiring an additional 48,254 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Delek US by 129.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 13,992 shares of the oil and gas company’s stock worth $398,000 after acquiring an additional 7,892 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

Delek US Company Profile

Delek US Holdings, Inc engages in the integrated downstream energy business in the United States. The company operates through Refining, Logistics, and Retail segments. The Refining segment processes crude oil and other feedstock for the manufacture of various grades of gasoline, diesel fuel, aviation fuel, asphalt, and other petroleum-based products that are distributed through owned and third-party product terminal.